Expedia picks CFO Mark Okerstrom as new CEO (EXPE)

During Khosrowshahi's 12-year tenure, Expedia's share price has increased eight times, while its market capitalization has expanded by $18 billion, RBC Capital Markets analyst Mark Mahaney said.

In an email sent to Uber employees on August 29, the board of directors wrote, "We're really fortunate to gain a leader with Dara's experience, talent, and vision". He'll attend an all-hands meeting on Wednesday, it said.

With a new CEO Not Named Travis finally on board, Uber is totally set to start rebuilding its reputation after a summer of scandal.

"Mr. Kalanick is pleased that the court has ruled in his favor today and remains confident that he will prevail in the arbitration process", a Kalanick spokesperson said in a statement.

Khosrowshahi has experience running an worldwide travel company, not unlike Uber.

Khosrowshahi will still have influence at the company through the board seat he's retaining.

The Iranian American executive is also said to be a good deal maker. With a deep passion for team building, Dara grew Expedia into one of the world's most successful travel and technology platforms. The list included Jeff Immelt, the former CEO of General Electric (GE), and Meg Whitman, the head of Hewlett Packard Enterprise. Startups and businesses in Bengaluru and Mumbai describe themselves as "an Uber for" whatever niche line of business they expect to make a success of in the digital age.

Under former CEO Travis Kalanick, Uber expanded at speed, but left a trail of destruction and bad PR in its wake.

Expedia President of Lodging Partner Services Cyril Ranque said in a statement. But the firm and its board had not spoken publicly on the decision until Tuesday evening. Benchmark's lawyers had asked the judge to temporarily restrict Kalanick from any business matters, while they proceeded with their lawsuit, which ultimately sought to completely remove Kalanick from the board. So, for the most part, Khosrowshahi's strategy has been Okerstrom's, as well. "I am going to be totally transparent with you".

There is urgency for Khosrowshahi to get to grips with the job as soon as he can.

Alleged bribery practices is just one problem among an ocean of problems Uber's new CEO has to deal with.

  • Joey Payne